FORBEARANCE AGREEMENT-WHAT????

Foreclosures, Short Sales, Tax Foreclosures
1

I have deal that I’m trying to do, I want to co a short sale on it.

I learned form Tony Young, if you try to help them keep their house they will be more willing to work with you. Anyways

My questions is can you do a forbearance agreement on a equity line of credit.

If I can’t do a forbearance agreement on the equity line, which is the 2nd mortgage, what should I do with the house?

The house is going to the sale on the first, and both mortgages are behind.

2

You need to short or settle the 1st mortgage. The second will settle shortly after that, more than likely. Sorry for the misleading info I posted last time…lol My answer YES was to the 2end lien forbarance agreement with them, but this will not stop the 1st lien from foreclosing, makes no sense to do that…